Question: Given the following information for a bond: Face Value = 100, Coupon Rate = 8.5091%, Years to Maturity = 7.47 Years, Market Rate = 4.83%,

Given the following information for a bond: Face Value = 100, Coupon Rate = 8.5091%, Years to Maturity = 7.47 Years, Market Rate = 4.83%, Coupon Frequency = 4 Find the value of Macaulay Duration and Modified Macaulay Duration. Show your complete solution for 10 points.

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